Sri Adhikari Brothers' MD Kailasnath Adhikari and Chairman Ravi Gautam Adhikari resign

New Delhi: Sri Adhikari Brothers Television Network has reported a series of board-level resignations following a change in management and control triggered by an Open Offer under Regulation 3(1) and Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

In separate filings to the BSE and NSE on November 18 2025, the company disclosed that six directors, including independent, non-executive and executive members, have stepped down with immediate effect.

Among the executive leadership, Kailasnath Markand Adhikari, Managing Director, and Ravi Gautam Adhikari, Chairman and Non-Executive Director, stepped down as part of the transition. Both confirmed the absence of any additional material reasons for their resignation.

Independent Directors Pritesh Rajgor, Ganesh Prasad Raut, and Umakanth Bhyravajoshyulu resigned citing the shift in management and control. Each confirmed that there were no material reasons for their departure other than those stated in their resignation letters.

Their disclosures, as required under Regulation 30 of the SEBI Listing Regulations and the SEBI circular dated July 13, 2023, were submitted alongside the notices. Non-Executive Director Ms Latasha Laxman Jadhav also resigned on the same grounds, effective close of business on November 18, 2025.

The company has stated that all required details and annexures, including resignation letters and disclosures of committee memberships in other listed entities, have been filed in compliance with SEBI regulations. The board has acknowledged the resignations and will be required to initiate the process of reconstitution in line with regulatory requirements.